EUR/JPY: Potential Long Continuation

6 maj 2023

During the last trading session, the EUR/JPY exhibited a corrective movement subsequent to a pullback in the 147.500 area and appears to have initiated a new bullish impulse, with a target to revisit the price level of 151.500, touched last week, or possibly surpass it to create a new higher high. However, in the daily timeframe, the price trend remains bearish, and a short position may be a potential consideration if the price experiences a correction and drops below the 146.800 level. The RSI indicator is still exhibiting divergence, and our underlying perspective is that of a long continuation.

8 maj 2023

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